[idrathernot]

It will IPO once the “accredited investor” class have an inkling that the company has ~2 years of good growth left so they can make it past the lockup period and ride off into the sunset. Rinse and repeat. There is so much private capital out there, the only reason to go public is because retail investor folks lack the means for proper diligence & restitution.

[riku_iki]

funding -> IPO is relatively short term gain, where private investors indeed have significant advantage.

But there is also long term gain: 10-100y after IPO stocks in your 401k like google, facebook, tesla, microsoft, ibm, etc.